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Mawarid Technology intends to inject $100m in investments into Egypt  - Daily News Egypt

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Mawarid Technology intends to inject $100m in investments into Egypt 

The Emirati company targets to acquire entities that provide security solutions to the Egyptian market


Emirati company Mawarid Technology intends to inject investments worth $100m in the Egyptian market throughout 2017.

The company is working to support the Egyptian government in reaching the concept of “smart government,” chairperson of the company Mohamed Al-Nuaimi said.

Al-Nuaimi announced that the company’s strategy relies on Egypt as a regional gateway to Arab and African markets, as it is one of the most promising markets.

Mawarid was founded in 2016, with joint investments from three companies—Falcon Eyes, TacMe, and Quicknet. These companies are experienced in implementing technical projects in the Middle East.

Habib Halabi, general manager of Mawarid Technology Group, said the company possesses sufficient expertise to implement technological infrastructure for mega projects. The Egyptian market will see a huge expansion of the company in the coming period, which provides job opportunities for Egyptian youth, he added.

“We are trying to enter into local partnerships, and we target to acquire some entities specialised in security solutions in order to form a huge entity in Egypt, thus enhancing the digital transformation of the Egyptian market, one of the fast growing markets in the Arab and African regions,” Halabi said.

The company provides integrated technological solutions in several fields, including defence, security and safety, information technology, digital payments, financial inclusion, and applications of smart government.

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